Raytheon

March, 2000

 

Benefits extra

No Changes Planned for Raytheon's Pension Plans

As we've explained in past issues of the Benefits newsletter, a cross-functional design team has been evaluating Raytheon's many pension plans. The team has completed its review and presented findings and recommendations to senior leadership. The resulting decision is to continue the current pension plans and not make any changes for the foreseeable future.

What This Means to You

This decision means that employees will remain in their current pension plan. The provisions of your current pension plan have not changed. We will soon be distributing copies of pension plan summary plan descriptions(SPDs) to all employees. Please watch your mail at home for your copy early next quarter.

For More Information

If you are considering retirement or planning for retirement, you may call for an estimate of your pension plan benefits. If you are a participant in a legacy E-Systems, Raytheon, or RTIS pension plan, you may call the Raytheon Benefit Center at 800-358-1231. If you are a participant in a legacy Hughes pension plan, you may call the Raytheon-Hewitt Retirement Center at 800-542-4015. Eligible employees hired on or after January 1, 1999, participate in the Raytheon Pension Plan.)

Planning for Retirement

When planning for retirement, be sure to use all the benefits information available to you from the company (such as a pension estimate and Savings and Investment Plan account information). You may want to take advantage of the retirement planning tools available to you on line, through NetBenefits (at http://www.4O1k.com/), and also consult with your financial planner.

Please keep in mind that your best source of specific information about your Raytheon benefits is Raytheon.Your Benefits Handbook and the separate pension plan SPD you will soon receive describe all of Raytheon's benefit plans. If you have questions about your benefits, you should call the Raytheon Benefit Center (or the Raytheon-Hewitt Retirement Center for information on legacy Hughes pension plans).